That never happened. It's a myth actually.
Both were bought over by Vitec Group Plc (Which is British I believe). Manfrotto in 1989 and Gitzo in 1992.
right about the Vitec group, its British no doubt.
http://www.vitecgroup.com/group/group_overview.aspx
see the logos on that page..
Gitzo, Manfrotto, even Kata bag.. :bigeyes: